Pictured above: David Morgan

One of the region's most experienced residential property lawyers believes that the housing market will see steady activity until Christmas unless the press and commentators talk us into a double dip recession.

David Morgan, head of Higgs & Sons' residential property team and the current chairman of the Tipton & Coseley Building Society, says that in the last few weeks his team has opened up far more new matters and that with more properties on the market, this steady trend could continue until Christmas.

"The abolishment of HIPS has really helped the market, with more people now feeling able to put their homes on the market without the expense of a HIP. However, with more homes to choose from, prices are being driven down.

"If the economy continues to be choppy for the foreseeable months, I believe the housing market will mirror this. The only obstacle in the way could be a double dip recession. The economy performs on perception and confidence and if the press and commentators do not report confidence, this will have an immediate effect on both the stock exchange and in turn the housing market."

As the chairman of Tipton & Coseley Building Society, David knows only too well how house buyers and sellers have been affected during the recession. He said: "The mortgage market remains tight, because banks and building societies must now hold more capital and maintain liquidity following the banking crisis. Borrowers are under greater pressure to prove they can pay for the mortgage at the end of the month when all other living expenses have been taken into consideration.

"As people find it more difficult to borrow money, the housing market must adapt. This is particularly the case for first time buyers who may be able to afford a deposit, but in time could come unstuck with the monthly bills, particularly if the interest rates begin to rise.

"Many of our clients have been using us for house buying and selling for many years because of our advice and support. For many people it's the biggest purchase they will ever make and it's certainly not just about getting the paperwork right."

At the top end of the market David and his team continue to see significant activity. "In addition to people trading up, we have also acted for several people recently who are purchasing holiday homes worth over £1 million. It's fair to say that there are still plenty of people in the region with cash to do deals like this."